Putin asserts EU's plans to sanction Russian oil won't be successful, slams West

As the European Union mulls imposing embargoes on Russian oil, Vladimir Putin asserted that the plan would not be successful as several European countries are heavily dependent on Kremlin for oil and gas, Press TV reported. Putin further noted that if European nations impose any embargoes on Russian oil, they have to pay the most expensive energy prices in the world.
Notably, he was pointing fingers at Hungary, Bulgaria, the Czech Republic and Slovak-- a group of landlocked nations which are still dependent on Russia for the supply of oil and gas. Earlier last week, European Commission proposed an oil embargo on Russia for its "unlawful action" against Ukraine, however, Hungary vetoed it.

"Some European countries, especially Hungary and others are dependent on us. Therefore, they will not be able to take the burden of purchasing oil from other countries for a long time," the Russian President said during a televised meeting with domestic oil managers and government officials on Tuesday. 

Furthermore, Putin slammed the West for imposing blind embargoes on Moscow and accused them of an abrupt increase in oil prices globally. Notably, if the proposed idea of the EU would be accepted, it would be a significant loss for Russia too as it is also highly dependent on the European countries for its sale. Since Russia started a war against Ukraine, it has already reduced oil production. Further, the Russian head assured the domestic oil producer to assist with loans and other insurance schemes to overcome the current situation. 

Lithuania FM asserts Hungary holding EU 'hostage' over Russian oil embargo

On the other hand, it would be not easy for the EU to impose any blind sanctions on Russian oil, boycotting the demands of Hungary and three others. According to a report by Euronews, Lithuania's Foreign Affairs Minister, Gabrielius Landsbergis, said that some member states are holding the bloc "hostage"-- potentially pointing fingers at Hungary. "Unfortunately, the whole Union is being held hostage by one member state who cannot help us find a consensus," he said. "The Commission really offered some solutions which we were looking at as too relaxed. We're talking almost of a ban of oil that would end, the phase out, by December 31 of 2024. That's a very, very broad scope. I think everybody expected that this would be enough and I cannot explain why it isn't," he added. 

Image: AP